5222 E Washington St - Apartments FOR SALE


Indianapolis, IN 46219- Irvington
$625,000 USD
317-440-2149
5222 E Washington St, Indianapolis, IN for Sale
$625,000 USD
Apartments - FOR SALE
1/9
null | 10.56% Cap Rate

5222 E Washington St
Indianapolis, IN 46219
Irvington


OVERVIEW

Investor Alert! Don’t miss this rare, cash-flowing group home opportunity at 5222-5224 E Washington. Currently rented with 8 private tenants paying $200 per week, this property brings in between $6,400–$8,000 per month, based on a 13-month financial model (not traditional monthly rent). The owner has a waiting list, showing just how high the demand is for units like this. The entire property has been completely renovated down to the studs in 2024 with all new mechanicals—4 furnaces, 4 water heaters, 4 condensers, plus brand-new electrical and plumbing systems throughout. Inside, you’ll find 8 private bedrooms, 4 full kitchens, and 4 bathrooms, providing ample space for residents and smooth operations for owners. Outside, there is private parking behind the building and a large unfinished basement—ready for expansion. Whether you’re thinking of adding 3–4 additional units or converting it into 8 extra beds, the projected additional income could reach $6K–$8K per month, easily boosting your ROI. If you're seeking a high-yield property with strong infrastructure, full occupancy, and immediate income, this is it. Schedule a showing today before this cash machine is gone!

FOR SALE DETAILS

PRICE

$625,000 USD

PRICE/SF

$200 USD /SF

# OF UNITS

4

PRICE/UNIT

$156,250

CAP RATE

10.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5222 E Washington Street, Indianapolis

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,828 SF

ZONING

D*

APN/PARCEL ID

49-10-03-150-026.000-701

ASK ABOUT THIS PROPERTY

Charlene GaardNo Limit Real EstateMore Info
317-440-2149

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Charlene GaardNo Limit Real EstateMore Info
317-440-2149

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.